Both states derived wealth from moving and taxing goods. Venetian merchants collected spices and goods arriving along the Silk Road at Levantine ports, shipped them to Venice, and sent them onward through the Alps into northern Europe. The Levant is used here as a broad commercial region whose geographical definition varied. Banking complemented Venice's shipping business. The Ottomans controlled overland routes and sought greater control of Red Sea and Mediterranean commerce. Each additional stretch of a route offered more tax revenue, greater security, and better terms for merchants. Venice answered Ottoman scale with diplomatic flexibility, technological investment, and an ability to absorb losses while trade continued to produce income.
Chapter · 1:43-4:43
Venice and the Ottomans as rival trading empires
Venice carried eastern goods from the Levant into European markets, while Ottoman expansion sought control of more of the routes and revenue behind that commerce.